I am calculating Tax on Taxable portion of PF contribution (more than 2.5L) for 22-23.
Do I need to consider Taxable portion of 21-22 and add that into 22-23's taxable portion. And calculate tax on accumulated amount at 8.15% ?
ClearTax website - In the subsequent years, the previous years’ accumulations of the taxable account will be brought forward, and the interest accrued on the opening balance and current years’ contribution (contribution above the threshold limit of Rs 2.5 lakh) of the taxable account shall be taxable.
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